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Untitled
GM
by
Gavin McClendon
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Updated Feb 7, 2022
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00:00
Chapter 1
Audio Transcript
Auto-generated
00:01 - 00:02
Hello.
00:02 - 00:03
My name is Gavin McClinton
00:04 - 00:05
as you know
00:05 - 00:06
and
00:07 - 00:09
I am here again to
00:09 - 00:11
read another assignment
00:14 - 00:15
started masking show now
00:16 - 00:17
thanks.
00:20 - 00:20
Mhm
00:20 - 00:21
So
00:24 - 00:25
knocked out
00:26 - 00:27
I believe it's Islam
00:28 - 00:28
okay
00:30 - 00:31
so
00:31 - 00:32
here we are.
00:32 - 00:33
My name is Gavin McClendon
00:34 - 00:36
and I'm here today to
00:37 - 00:39
give you my presentation on
00:40 - 00:43
my intro and what I've learned from economics so far
00:44 - 00:49
and I put a little context it's like it's
00:49 - 00:52
reminding to myself when I was doing this assignment to
00:53 - 00:57
keep in fact or keep in mind that this is what I'm doing
00:58 - 00:59
and all that
01:01 - 01:06
and this is where I start from. So I start off with personal finance.
01:06 - 01:09
I say personal finance is a term that
01:09 - 01:11
companies managing your money as well as saving.
01:11 - 01:15
An interesting personal finance. Personal finance is about
01:16 - 01:17
meaning
01:17 - 01:21
personal financial goals whether it's having enough
01:21 - 01:27
for short term short term financial needs planning for retirement
01:27 - 01:33
or saving for your child's college education from I learned
01:34 - 01:39
so far economics. Pasting pasting yourself.
01:39 - 01:44
Keeping limits and set goal setting can help achieve whatever
01:44 - 01:49
you like so much so that whatever money you spend
01:49 - 01:50
on something
01:51 - 01:52
you can get it right back
01:53 - 01:54
that's displayed here.
01:56 - 01:56
Mhm
01:57 - 02:02
Whilst management loan steps, Social security, budgeting, retirement taxes,
02:02 - 02:06
risk management, estate planning investments and insurance,
02:06 - 02:09
credit cards and hallmark shrinkage.
02:10 - 02:13
It's all kind of like from how I see or from
02:13 - 02:18
what I've learned even on video games use it sometimes they're like
02:19 - 02:20
yeah all
02:21 - 02:22
plays
02:22 - 02:27
like let's say if I bought something this all if you keep all this in mind
02:27 - 02:29
buying whatever you have
02:30 - 02:33
or whatever you chose to buy and no matter if it was points of buying it,
02:34 - 02:36
it can somehow be
02:36 - 02:39
something very beneficial to you
02:40 - 02:43
or re beneficial where it just re creates
02:44 - 02:45
more money or it can be just
02:47 - 02:48
better in a way or better
02:49 - 02:49
than
02:49 - 02:50
it was before.
02:52 - 02:54
I'm doing a terrible job explaining
02:55 - 02:56
Yeah.
02:57 - 02:58
Economic frame,
02:58 - 03:02
the most common definition of leisure by economics is at least
03:02 - 03:07
implement quickly has been non work time. Ordinarily
03:07 - 03:08
there was not enough interest
03:09 - 03:13
in the concept to decide, registered in Portola in ways of spending time
03:13 - 03:20
for work or leisure, some of which I put together to make my personal economy better,
03:22 - 03:25
which is a perfect example
03:27 - 03:31
what that is what I try to do. I try to make it personal examples,
03:34 - 03:36
political political frame economic frame,
03:36 - 03:39
social change frame culture change frame
03:39 - 03:42
all that is,
03:43 - 03:45
it is somewhat beneficial
03:47 - 03:49
to you and your own
03:49 - 03:50
like
03:52 - 03:53
standpoint.
03:54 - 03:59
It just, it just keeps, it's like a small ball effect or someone
03:59 - 04:02
the way I see it just keeps building up and it gets bigger
04:03 - 04:06
if you keep these facts in mind, it just
04:06 - 04:07
it is a constant
04:08 - 04:08
help.
04:09 - 04:10
Okay,
04:10 - 04:11
consumption,
04:11 - 04:15
consumption and economics, the use of goods and services by households,
04:15 - 04:18
neoclassical and instance, mainstream
04:18 - 04:21
economics generally considered consumption to be
04:21 - 04:25
the final purpose of economic activity and thus the level of consumption
04:26 - 04:28
the person is viewed as a central
04:28 - 04:32
measure of economic economic economies productive success,
04:32 - 04:37
one of which I try making it based
04:37 - 04:41
for my personal structure from an economic standpoint
04:42 - 04:44
and what they have here in this example
04:44 - 04:46
whistle all levels
04:47 - 04:48
of
04:48 - 04:51
consumption and their economies that government
04:52 - 04:53
of Kirk corn
04:54 - 05:00
Reduces income tax by 5%. The decreases in income tax means that all workers and
05:00 - 05:04
American will now have more disposable income each month
05:05 - 05:07
which actually cash in their wallets, the
05:09 - 05:13
the people of color gone head to the shops and spend the
05:13 - 05:19
extra money on all sports of goods from clothing to new phones.
05:19 - 05:23
As a result, the total consumption begins to increase
05:26 - 05:27
marco economic,
05:27 - 05:32
which is I hadn't really known anything about this or even heard of this before until
05:32 - 05:37
I did that assignment last week where I didn't explain this and
05:37 - 05:41
I did actually kind of use the exact same wording from that.
05:42 - 05:46
I put marco economic trend in market economic
05:46 - 05:49
trend indicator can be defined as an untenable
05:49 - 05:53
time series that representative meaningful economic trend and
05:53 - 05:56
that can be mapped on the performance performance of
05:57 - 06:00
tradable assets of derivatives position.
06:00 - 06:05
It can be based on three complementary types of information, economic data,
06:05 - 06:08
financial market battle and expert judgment.
06:08 - 06:09
In fact,
06:09 - 06:11
I found this to be very
06:11 - 06:12
useful at previous
06:13 - 06:16
assignments, which is what I meant to put that.
06:16 - 06:18
But I think when I put in the picture like
06:18 - 06:20
put it somewhere else,
06:23 - 06:25
I'll put it here again,
06:28 - 06:30
Simon's and my eyes,
06:31 - 06:40
in my eyes, it's completes the blueprint for my control structure,
06:44 - 06:48
the inflation.
06:48 - 06:54
Sorry about that because I'm now noticing that which I probably should have had
06:55 - 06:59
right right over again in the extra time. I did read it over the top.
06:59 - 07:01
I thought would sound good.
07:02 - 07:07
So I decided to just make a video. He's finding what I'm reading it.
07:07 - 07:10
You know, noticed him some imperfections. Now
07:12 - 07:13
inflation
07:14 - 07:15
moving onto inflation.
07:16 - 07:18
This is exactly from
07:19 - 07:22
The old one. But I just added a ton more
07:23 - 07:24
information.
07:27 - 07:27
Yes
07:28 - 07:33
because there there are factors that need to be included such as inflation,
07:33 - 07:37
interest rates and economic growth, inflation can be
07:37 - 07:39
the finance information rate is
07:40 - 07:46
of increase in prices over a given period of time. Yes.
07:47 - 07:48
All right
07:49 - 07:50
over it.
07:51 - 07:53
A given period of time. Sorry about that
07:54 - 07:57
inflation is typically a broad measure such as
07:57 - 07:59
the overall increase in process of
08:00 - 08:04
increase in the cost of living in a country. Interest rates can be
08:05 - 08:06
and very hard subject
08:08 - 08:09
to speak upon.
08:10 - 08:12
In fact I pulled information
08:13 - 08:18
from google from this one. To help in this definition.
08:18 - 08:21
Interest rates on consumer loans typically quoted
08:21 - 08:24
as the annual percentage rate A pr
08:25 - 08:31
this is rate of return that lenders demand for ability to borrow money for example,
08:31 - 08:36
the interest rate of credit cards and quoted as an A.
08:36 - 08:37
P. R. And
08:38 - 08:40
our example above
08:40 - 08:41
4%
08:43 - 08:48
is in the A. P. R. For the mortgage, mortgage or borrower
08:49 - 08:52
last but not least definitely not least.
08:53 - 08:57
I'm sorry. I'm like tripping up over my own words right now. It's weird
09:00 - 09:02
is the final
09:02 - 09:03
factor.
09:04 - 09:07
Economic growth is an increase in production of economic goods and
09:07 - 09:11
services compared from one top period of time to another.
09:11 - 09:15
Keeping in mind a very large margin margin of
09:15 - 09:18
this can be become very successful in life.
09:18 - 09:22
Some people make millions for a minute just by some
09:22 - 09:24
some of the small factories
09:24 - 09:27
this creates the bowtie
09:28 - 09:30
down bow tie
09:30 - 09:33
down but I am not yet finished.
09:34 - 09:40
I am my personal economic kind of it kind of oh my gosh economy infrastructure
09:41 - 09:45
resources from google and along with various other
09:45 - 09:48
websites provide me information on how to,
09:48 - 09:54
to imply this in such ways to help other with other assignments
09:55 - 09:58
and sometimes can resolve problems if I'm unsure
10:00 - 10:06
and I did use I will also admit this majority of the stuff
10:06 - 10:09
for this assignment and the other summit I looked
10:09 - 10:12
at from new york times and I even have
10:12 - 10:16
it like if I open up my phone there's some stuff on her to from new york times.
10:16 - 10:18
It just like it recorded like
10:19 - 10:21
from reading it and from like
10:21 - 10:25
I would like factor it together and then I realized I'm like
10:27 - 10:28
some helpful
10:28 - 10:30
ingredients
10:30 - 10:36
to help myself or to help the even the american culture
10:37 - 10:40
what their economy and what their economy
10:40 - 10:43
unlike the bigger picture even though I'm pretty sure
10:43 - 10:44
it just won't make it to that level.
10:47 - 10:48
Yeah
10:49 - 10:50
inflation
10:51 - 10:57
there is a good example of inflation so how inflation has changed in the price
10:57 - 11:02
of a cup of coffee over time and this also helped with like my hobby,
11:02 - 11:09
my own personal hobby where I love, I love cars and over time
11:10 - 11:12
people would like
11:13 - 11:18
for if they were to exchange something from over Japan they'll bring it here and
11:18 - 11:21
it might not have an engine in it and it might don't,
11:21 - 11:27
might sell it for the original like the good, the price of the, with the engine in it
11:28 - 11:30
because the,
11:30 - 11:32
cause I'm interested are usually there looked out
11:32 - 11:35
for not only just won the car itself,
11:35 - 11:38
they're interested in the engine,
11:38 - 11:41
the electronics and all that and they might even use it
11:41 - 11:45
and literally they might take it off and form it into a
11:46 - 11:48
another card and I make like a supercar basically
11:49 - 11:50
if they wanted to
11:51 - 11:54
and that my factor and like drag cars and stuff and
11:54 - 11:58
what I'm getting into this is it's when they do that,
11:59 - 12:02
people see that more often and they'll take that
12:02 - 12:04
into mind and like oh this guy's doing this,
12:04 - 12:07
what if I added a little bit more money onto it
12:08 - 12:10
by cleaning, cleaning up the interior
12:11 - 12:12
and I would sell it
12:12 - 12:14
and it won't have an engine in it
12:15 - 12:16
and
12:16 - 12:20
people really like that and that might make the prices go
12:20 - 12:25
up more and it makes it go up more and that's like
12:25 - 12:30
recently people would sell like absolutely garbage cars like it'll be rusted
12:30 - 12:35
out falling apart and also as much as for us that car
12:35 - 12:37
without the engine
12:38 - 12:40
which is absolutely ridiculous
12:40 - 12:42
and it would sell for like
12:43 - 12:48
um this is a perfect example like there are cars now like GT Rs
12:50 - 12:51
and
12:51 - 12:58
those cars for example they one up, they shot up in prices dramatically
12:58 - 13:03
Like they started off from 20 grand and it just jumped up
13:03 - 13:08
to 150 grand and they can be I am not kidding,
13:08 - 13:12
it can be a beat up car with dents in it and it will
13:12 - 13:16
still suffer that price no matter what and they won't change the price at all
13:18 - 13:22
and that's kind of where I'm getting on getting,
13:22 - 13:27
getting on with inflation because I really really really notice inflation.
13:27 - 13:32
Like if I if I see economics at all or anything about it,
13:32 - 13:34
the first thing I think about is inflation.
13:37 - 13:43
Now this is like I added this in to be kind of in
13:44 - 13:44
like
13:45 - 13:47
a description on
13:47 - 13:51
if I were speaking to someone they were speaking back to me and like
13:51 - 13:52
it's like
13:53 - 13:58
let's say if I were the president and I was at a press conference,
13:58 - 14:02
people would stand up and don't give me like questions to answer
14:02 - 14:05
and these are these bold lettering that I
14:05 - 14:08
might put in the assignment from time to time
14:10 - 14:13
or if you just make this a topic so I can just skip over to it
14:14 - 14:14
specific
14:15 - 14:16
topic or section that I need
14:18 - 14:19
kind of like a glossary
14:20 - 14:27
now how does this help with the american american or even other economies?
14:27 - 14:28
Don't be selfish
14:29 - 14:30
slash conclusion.
14:30 - 14:33
The U. S. Economy is dominated by
14:33 - 14:38
service order or orientated companies in areas such as technical, logical,
14:38 - 14:39
financial, service,
14:40 - 14:42
service, healthcare and retail.
14:42 - 14:49
Even though the services sector is the main engine of the economy, the U. S.
14:49 - 14:52
Also has an important manufacturing based,
14:53 - 14:59
Which represents roughly 15% of output, the federal mineral rate for covered.
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